For some reason I thought that not having a chance to get ahead was a big part of Occupy Wall Street. That the top 1% is running away with money from the bottom 99%.
Unfortunately, the unemployment data below confuses that story. It shows a serious education issue and major problems in the African-American community, but not a widespread problem among the 99%.
In fact, if you take those groups out of the equation then the problems are nearly wiped away. Our college grads have an employment rate of 4.2%. The white and asian communities over-all have an unemployment rate around 6.5%.
An unemployment rate of 4-6% is considered normal for a healthy economy, taking into account those between jobs, career changes, etc.
Perhaps, the message for Occupy Wall Street should have been to get more kids through college and help out the African-American community?
November 2011, Unemployment Statistics – Bureau of Labor Statistics
By Education
- High school dropouts – 12.7%
- High school, no college – 8.4%
- Some college or Associates Degree – 7.4%
- Bachelor’s and higher – 4.2%
By Race, Sex
White, unemployment rate, 7.2 %
- Men – 6.8%
- Women – 6.5%
- Teens – 21%
Black, unemployment rate, 14.9%
- Men – 15.5 %
- Women – 12.7%
- Teens – 39%
Asian, unemployment rate, 6.5%
By Industry
Highest unemployment rate:
- Agriculture – 14.9%
- Construction – 13.1%
- Leisure and Hospitality – 11.1%
Lowest unemployment rate:
- Self-employed – 5.2%
- Education and Health – 5.2%
- Government workers – 4.5%
Industry most likely for college grads:
- Professional and business services – 9%
- Information – 7.4%
- Financial activities – 6.1%
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I want to encourage you to come to your own conclusions about these numbers. What did you come up with?
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One I came up with is that it certainly pays to be a college grad (4.2%) and be self-employed (5.2%). Both have the lowest unemployment rates.
